Jalan-Kalrock consortium invests Rs 350 crore in Jet Airways

New Delhi (Uttam Hindu News): Jalan Kalrock Consortium (JKC) on Friday announced investing an additional Rs 100 crore in the airline under a court-approved resolution plan to revive operations of grounded airline Jet Airways.

According to a statement issued by JKC, with this the consortium has completed its total financial commitment of Rs 350 crore for the revival of the airline. This will pave the way for taking over the ownership of Jet Airways. Additionally, the consortium has reiterated its commitment to relaunch Jet Airways. The specific launch date will be announced in the coming days. Jet Airways ceased operations on 17 April 2019.

In its statement, the consortium said today it has completed an additional investment of Rs 100 crore for the revival of the airline. With this investment, JKC has now completed its total financial commitment of Rs 350 crore as per the court approved resolution plan, and all commitments of JKC to take control of the iconic airline have now been completed.

He also said that their strategy to revive the airline remains unchanged and the new promoters are determined to restart operations of the airline in 2024. More details regarding the launch date of Jet Airways will be revealed in the coming weeks.

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